Peru | Tracking consumption with real-time data in February 2026

Summary

The Private Consumption Big Data Index showed a moderation in February 2026, although it maintained a significant year-on-year expansion of 18.4%. This dynamism is supported by greater liquidity from pension withdrawals, consumer credit, and the strength of the labor market.

Key points

• Key points:
• The year-on-year growth of consumption in January and February 2026 reached 19.4%, surpassing the 14.9% recorded in the fourth quarter of 2025.
• The expansion of spending relies on the extraordinary pension fund withdrawals initiated in late 2025 and on year-on-year consumer credit growths above 10%.
• The continuous generation of formal employment, the increase in income, the improvement of the wage bill, contained inflation and consumer confidence optimism sustained household spending in February.
• The digitalization of spending advances with an increase in the share of card purchases and a relative decrease in the use of cash.
• The seasonally adjusted private consumption index experienced a month-on-month contraction of 1.8% during the month of February.

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